US Action News

No “immediate” crash of the Euro. Where will the trillions come from? UK says no.

When there are more losses, and there will be, the only way to guarantee banks do not take them, is to have someone else take them, namely taxpayers. By Mike “Mish” Shedlock at Mish’s Global Economic Trend Analysis If French president Nicolas Sarkozy gets his wish to “Level the Playing Field” on sovereign bonds, a decade-long European recession is on its way. French President Nicolas Sarkozy made it clear in a speech in Toulon last week that he wanted the […]

Until there’s a fundamental and structural change of how government is held accountable for running and managing a nation’s resources, there could be more crises similar to the one in the Euro Zone popping up to the point of one Scary Grandioso–No more spare bailout capacity. By EconMatters Monday, December 5, 2011 Stock markets soared after the coordinated actions on Wed. Nov. 30 from six central banks around the world — the Federal Reserve, European Central Bank (ECB), and the […]

The euro’s time is almost up – so says one of the big three credit rating agencies as it prepares for a mass eurozone debt downgrade. S&P’s announcement shook international markets, with investors cutting and running on European holdings. ­Especially worrying for them this time is that even Germany, seen as the EU’s backbone, is not being spared. Standard & Poor’s justified its decision by pointing out the bloc’s consistent failure to stem its debts, even as nations saw their […]

With the situation in Europe deteriorating and the increasing recognition that there is no solution, capital will leave these banking systems as well as flee the countries involved. If you fear bank failure, you take your cash out. If you fear currency failure, you put your money into safer currencies, preferably outside of the country. From Monty Pelerin’s World In March of 2010, I discussed the possibility of another bank holiday. We had one during the Great Depression where banks […]

When there are more losses, and there will be, the only way to guarantee banks do not take them, is to have someone else take them, namely taxpayers.

The euro’s time is almost up – so says one of the big three credit rating agencies as it prepares for a mass eurozone debt downgrade. S&P’s announcement shook international markets, with investors cutting and running on European holdings.

While Obama pushes the US toward socialism the Europeans face the reality of having run out of other people’s money.

Until there’s a fundamental and structural change of how government is held accountable for running and managing a nation’s resources, there could be more crises similar to the one in the Euro Zone popping up to the point of one Scary Grandioso–No more spare bailout capacity.

Inflation will destroy US savings and purchasing power but the Fed and Obama have decided that is an ok price to pay to bail out Europeans. Obama is desperate to keep the economy from tanking any further before the 2012 election.